BUS 300: Comprehensive Diversity Analysis of Bounce Fitness Business

This report provides a comprehensive analysis of Bounce Fitness's business diversification strategy. It begins with an overview of the company's history, its transition from an aerobic studio to a diversified fitness provider, and its approach to offering a 'one-stop shop' experience for its customers. The report explores the advantages of diversification, such as minimizing risk and generating income. It identifies key stakeholders, including investors, legal bodies, suppliers, and customers, and discusses the importance of consulting them during policy implementation. The report compares Bounce Fitness's diversification strategy with that of Gold Gym, highlighting similarities in expanding services and geographic reach. It suggests policies for the fitness studio business, including regular feedback, scheduling flexibility, and event planning. The report also discusses the implementation of diversification, focusing on workforce adjustments, expert consultation, and communication strategies. Finally, it examines the tools needed for diversification, such as new equipment and training grounds, and provides insights into monitoring business activities. The report is a detailed analysis of the company's diversity policy.

Running head: DIVERSITY ANALYSIS OF BOUNCE FITNESS
DIVERSITY ANALYSIS OF BOUNCE FITNESS
Name of Student
Name of University
Author’s Note

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TABLE OF CONTENTS
PART A:..........................................................................................................................................2
Answer a:.....................................................................................................................................2
Answer b:.....................................................................................................................................2
Answer c:.....................................................................................................................................3
Answer d:.....................................................................................................................................3
PART B:..........................................................................................................................................4
Answer e:.....................................................................................................................................4
Answer f:.....................................................................................................................................4
Answer g:.....................................................................................................................................5
Answer h:.....................................................................................................................................5
Answer i:......................................................................................................................................6
Answer j:......................................................................................................................................6
Answer k:.....................................................................................................................................6
PART D:..........................................................................................................................................7
Answer l:......................................................................................................................................7
Answer m:....................................................................................................................................7
REFRENCES:..................................................................................................................................8

2DIVERSITY ANALYSIS OF BOUNCE FITNESS

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PART A:
Answer a:
Bounce fitness has come into existence in the year 2001made by Margaret House. It
started off as the aerobic studio and later it diversified into various fitness training. The company
went for the approach of one stop shop. They also update equipment’s present in the studio in
every three years (Wang et al 2017). The diversification of classes includes choreographed
fitness moves and it also contains aerobic classes and also some of the circuit classes. In
accordance with the customer needs the other kind of facility is also provided. The studio also
offers low carbs and high protein food which are good for health. Providing of personal trainer
also inculcated in the regime for the members of the fitness studio. It has branches in all over
Australia. This diversification is done after observing of the problems regarding the fitness and
also the needs for the fitness.
Answer b:
There are many advantages of diversification in a business. The main advantage involves
minimizing risk of loss. This states that if one of the departments does not perform then it can be
compensated by the other departments. This procedure applied by the Bounce Fitness. If one of
the classes of the Bounce Fitness does not attract students then the loss can be compensated by
the other classes (Smith and Goldstein 2017). Diversification has helped in preserving capital for
the investors of the company or the organization. The same goes with the Bounce Fitness as it
will help the investors of the company can preserve the investment. Generating income is one of
the major benefits of the diversification and the investors of the bounce fitness also see through it

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and hence the diversification is made.

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Answer c:
The stakeholders which are to be consulted in the diversification policy are the investors,
legal bodies, supplier and the most important of all is the customer. The investors are the first
one to be informed because they are the ones who will provide money for the diversification.
Legal bodies are the ones who are also involved in the diversification because the services which
are to be involved in respect of diversification needs a legal permission otherwise some serious
problems may arise in future (Mángano and Buatois 2014). The supplier is also one of the
integral parts for the diversification as the supplier are the ones who will provide the required
equipment’s which are needed for the starting of new projects. The most important stakeholder
who needs to be informed are the customers who will pay and enjoy the service which are
provided by the organization. In this respect the diversification is informed either by
advertisement of providing some kind of leaflet to the existing members and also the ones who
are eager to join.
Answer d:
The same diversification policy of Gold Gym is almost similar to the Bounce Fitness
diversification policy. The diversification policy includes similar approach by diversify the roots
to the other parts of the country and even in the whole world. Gold Gym has similar tactics in
case of providing different types of classes in different aspects (Knickman et al 2016). This same
policy is adopted by Bounce Fitness Studio. Gold Gym even provide the low carb and high
protein diet to the aviled customers.

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PART B:
Answer e:
The best diversification policy to be which can be implemented for the fitness studio
business can include the regular feedback policy to be asked to the members of the fitness studio
and also enquiring them about the new products to be included and hence can implement the
policy in later stage. Suggestions can also be taken from the members for the development of the
gym in case of fitness equipment which need to be installed in the gym (Kaur, Vatta and Sidhu
2015). This will not only help the member to experience new machine but it will also help the
gym to get better and can attract new members for the gym. In accordance to the need for the
classes the classes can reschedule so that more members can be involve in the classes. The
timing of the classes can be scheduled in such a way that the members can feel that they are
getting the classes in accordance with the time. Regular meeting can be conducted so that the
members can express there query regarding any matters and also providing more information
regarding the diets and foods to be taken. The fitness studio can also plan an event for the
members like any kind of race or competition which will involve the members. The other
amenities like swimming pool and other necessary rooms like locker room, sauna, steam bath
room and also the bathing room to be provided which will help the members to enjoy such
amenities.
Answer f:
To implement the diversify policy increasing workforce is one of the major thing needed.
This is important because to diversify the program states that the company needs to take up
qualified staffs for the job. Consulting with the experts is also required because they are the ones
who have helped them to implement the plan and hence make success by bringing the

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diversification (Hasan 2016). The organizations need to encourage the staffs to participate in the
civic organizations which provide and promote diversity training. Perks need to be introduced for
the part of flexible schedule or maintaining the reimbursement plan.
Answer g:
To provide the diversify policy the most important thing which comes into consideration
communication with the stakeholders of the company. The communication mostly is formal
communication. The formal communication includes sending the formal mail to the most of the
stakeholders of the company except the customers or the members of the company. To reach the
members of the company the company needs to either go for calling a meeting where the existing
members will be present and they can discuss about the diverse policy and also asked them to
recommend their peers (Cândea and Bogan 2014). This will provide a great chance for the
company to acquire new customers. The company can also go for advertisement strategy where
the company will directly reach to the mass and hence there is a great chance for the incoming of
new customers for the company.
Answer h:
There will be some small change in the diversification policies as the companies need to
decrease the staff members which were expected previously. This is to be done because the
budget which is allocated for requiring new members need to be compromised and hence
transferred for the advertisement for the new gym or new equipment’s which are to be
implemented (Ayres and Curtis 2014). Other changes which need to be maintained that creating
an open room for the members to be assemble for the meeting purpose need to be implemented
and hence this money will also be compromised from the above mentioned source.

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Answer i:
To promote the new diversify policy across Bounce Fitness the management needs to
conduct the meeting with all kinds of stakeholders separately and notify them about the new
diversify policy so that they can avail new facilities which are to be promoted (Albassam 2015).
The staff members of bounce Fitness need to convey the message to the members of Bounce
fitness so that they notify their peers which will fulfill the criteria for getting the required new
members and hence increase the profit margin for the company.
Answer j:
The tools which require for the diversification are new equipment’s because they will
help the fitness studio to increase diversify the classes and hence will attract more members for
the studio. The company also implement new ring for practicing self-defense class and also
provide new training ground which help the company to diversify the policy of attracting new
customers. The self-defense classes are in demand and hence it can reach the benchmark of
getting 100 new members under five months. There are many extra things which the fitness
studio can introduce in the system in accordance with the need and also from the members.
Answer k:
Business activities of Bounce Fitness can be seen by providing data using the Business
Activity Monitoring software which is developed to monitor the activity of the business. Team
plan is one of the most important things required for the business activities (Ajani 2014). The
team plan must be discussed after every month so that the team can be fluent enough to perform
their respective work. Staff performance need to be taken into consideration by taking feedback
from the users of the fitness studio and also from the peers working with that staff.

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PART D:
Answer l:
Information regarding the communication and also the adjustment with the budget to
compromise for the diversity policy are the parts which are to be observed and measure well
because they are the primary and key points for the requirement for the diversification needed.
The communication system need to be improved as the company need to communicate very well
with all the stakeholders before implementing the diversify policy.
Answer m:
The communication system needs to be altered little bit because the communication
which Bounce Fitness is more of a formal way that is by sending e-mail or by providing the
pamphlets. The area of communication need to be improved by sending messages and also by
telling every member informally which will move forward eventually and hence by the time of
implementation of diversify policy it will be clear to every stakeholders.

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Ayres, I. and Curtis, Q., 2014. Beyond Diversification: The Pervasive Problem of Excessive Fees
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